398 New Hermitage Rd NE · Shannon, GA 30161

$60,000

5 bd · 1.0 ba · 2,180 sqft · SingleFamily public records · 14 Days on market

Built 1830 0.35 ac lot ↓ 35% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! Priced to Sell! 5BR/2BA home with approximately 2,200 sqft on a 0.42-acre lot and NO HOA. Located minutes from downtown Rome and Hwy 53. Property needs repairs and is being sold As-Is, making it an excellent opportunity for investors, flippers, or buyers looking to build sweat equity. Strong upside potential and priced well below renovated comparable homes.

Key facts

• 0.35 acre lot
• Built 1830
• Listed 13 days

Property features AI

Finance

• Other: GPS-friendly directions

Exterior

• Parking: Driveway parking with open parking available
• Utilities: Public water; Septic tank sewer; Electric service listed (details not specified)
• Home design: Two levels
• Construction: Shingle roof; Construction materials listed as other
• Exterior features: Driveway with additional open parking; Asphalt/paved roads; property has city street frontage; Other on-site structures (details not specified)

Interior

• Kitchen: No kitchen features listed
• Bedrooms: Two main-level bedrooms; Three upper-level bedrooms
• Flooring: Flooring described as other (specific material not listed)
• Bathrooms: Two full bathrooms; one on the main level and one on the upper level; Master bath listed with other features
• Heating & cooling: Central heat; Additional heating type listed as other; Central air conditioning
• Interior features: One fireplace in the living room; Full basement; No shared/common walls; Resale condition
• Laundry & utility: Laundry features listed (details not specified)

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 26.2% vs local median 3.7% in Shannon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#264 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Floyd County (rural): math 41% / reading 40% proficiency, ranked #45 of 174 in GA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Model Elementary School (math 50% / reading 48%, grade D, #280 of 1,228 statewide, top 23%, 489 students, 56% FRL); Model Middle School (math 47% / reading 53%, grade C, #68 of 470 statewide, top 15%, 519 students, 41% FRL); Model High (math 36% / reading 43%, grade F, #57 of 424 statewide, top 13%, 912 students, 32% FRL).
• Market conditions: Rents rising fast (+6.3%/yr); 411 active listings in the ZIP; 355 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Floyd County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1830 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.86% ✓
• Cap rate: 26.16%
• Cash-on-cash: 70.95%
• DSCR: 4.16
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.28% rent growth · sell at horizon

5-year hold

• IRR: 74.1%
• Equity multiple: 4.54×
• Total profit: $59,390
• Equity at exit: $8,946

10-year hold

• IRR: 78.8%
• Equity multiple: 10.46×
• Total profit: $158,845
• Equity at exit: $5,188

Cash invested: $16,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30161

• Rents YoY: 6.3%
• Active inventory: 411
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,717 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$23 /mo · $278/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $993

Break-even live

Break-even rent $459

Max offer price $60,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,027	-5% $1,010	+0% $993	+5% $976	+10% $959
Rent	-10% $858	-5% $926	+0% $993	+5% $1,061	+10% $1,129
Rate	-1.0pp $1,024	-0.5pp $1,009	base $993	+0.5pp $978	+1.0pp $962

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $60,000 Active 14 DOM
2. 2026-06-18
   days on market $60,000 Active 13 DOM
3. 2026-06-17
   days on market $60,000 Active 12 DOM
4. 2026-06-16
   days on market $60,000 Active 11 DOM
5. 2026-06-15
   days on market $60,000 Active 10 DOM
6. 2026-06-14
   days on market $60,000 Active 8 DOM
7. 2026-06-13
   days on market $60,000 Active 7 DOM
8. 2026-06-10
   days on market $60,000 Active 5 DOM
9. 2026-06-09
   days on market $60,000 Active 4 DOM
10. 2026-06-08
    days on market $60,000 Active 3 DOM
11. 2026-06-07
    pricestatusdays on marketlisting id $60,000 Active 2 DOM
12. 2026-05-15
    listed $68,000 New 742-char remark
13. 2026-05-15
    status Active 760-char remark
14. 2026-05-15
    price $68,000 760-char remark
15. 2026-05-11
    historical 760-char remark
16. 2026-05-11
    historical
17. 2026-04-28
    price $70,000
18. 2026-04-28
    price $70,000 760-char remark
19. 2026-04-22
    price $72,500 760-char remark
20. 2026-04-22
    price $72,500
21. 2026-04-16
    historical
22. 2026-04-11
    listed $80,000 Active 760-char remark
23. 2026-04-11
    historical $80,000 760-char remark
24. 2026-04-10
    listed $80,000 New
25. 2026-04-10
    listed $80,000 New
26. 2026-04-02
    historical
27. 2026-04-02
    historical
28. 2026-03-31
    price $80,000
29. 2026-03-16
    price $85,000
30. 2026-03-16
    price $87,500
31. 2026-03-16
    price $86,500
32. 2026-03-04
    listed $92,500 Active
33. 2026-03-03
    historical
34. 2026-03-02
    listed $92,500 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $278 · $23/mo
• Projected year-2 tax: $552 · $46/mo
• Expected delta: +$274/yr (+$23/mo · 98.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,600
• − Mortgage interest: −$3,361
• − Property taxes: −$278
• − Insurance: −$300
• − Repairs & maintenance: −$1,648
• − Management: −$1,648
• − Depreciation: −$1,745
• Taxable income: $11,620
• Est. tax owed @ 24.0%: −$2,789
• After-tax cash flow: $9,132/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Floyd County
• NCES district ID: 1302190
• Math proficiency: 41% ▼ -5.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $47,083
• Composite: 34.64/100
• National rank: #5143
• State rank: #45 of 174 in GA

Livability — Shannon

• Score: 64/100
• State rank: #264
• US rank: #14408

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Floyd County · 77,706 people
• Metro: Rome, GA
• Population (ZIP): 34,705
• Household income: $61,667
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1104.0

Population outlook (Floyd County) Hauer SSP2

• Today (2025): 96,321 people
• By 2030: 95,532 · -0.8%
• By 2040: 93,332 · -3.1%
• By 2050: 90,850 · -5.7%
• By 2075: 84,989 · -11.8%
• By 2100: 76,097 · -21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 20% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Floyd

• 2024 margin: Solid R (+42.0) · D 28.8% · R 70.7%
• 2008→2024 swing: -5.6pp toward R · 2008: -36.4pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+41.1 2016: R+43.5 2012: R+39.9 2008: R+36.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -186.06%
• Current HPI: 257.8168
• Rent YoY: ▲ 6.28%
• Metro: Rome, GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

-35.1% since first listed

19 events — show timeline

• 2026-06-05 Listed $60,000 FMLS
• 2026-06-05 Listed $60,000 GAMLS
• 2026-05-26 Listing Removed — GAMLS
• 2026-05-15 Listed $68,000 GAMLS
• 2026-05-11 Listing Removed — GAMLS
• 2026-04-28 Price Changed $70,000 GAMLS
• 2026-04-22 Price Changed $72,500 GAMLS
• 2026-04-16 Listing Removed — GAMLS
• 2026-04-10 Listed $80,000 GAMLS
• 2026-04-10 Listed $80,000 GAMLS
• 2026-04-02 Listing Removed — FMLS
• 2026-04-02 Listing Removed — GAMLS
• 2026-03-31 Price Changed $80,000 FMLS
• 2026-03-16 Price Changed $85,000 FMLS
• 2026-03-16 Price Changed $87,500 FMLS
• 2026-03-16 Price Changed $86,500 FMLS
• 2026-03-04 Listed $92,500 FMLS
• 2026-03-03 Coming Soon — FMLS
• 2026-03-02 Listed $92,500 GAMLS

Property tax history

+7.7%/yr

Latest (2025): $278 · +1.2% YoY. Source: county tax records.